Maybe if you can build a really good team, but it just seems risky.

Low risk ( I have been in the business about 17 years) and a decent return.

Lenders are tightening their belts right now, and many are taking 30-60 days in underwriting because 1) Cash out refis are viewed as more risky than purchase loans, and 2) Lenders are overwhelmed with refinances because of the low interest rate environment. 

The only other risk is making sure the insurance has you as the lender. 

You can buy at foreclosure auction with cash as well( Though this is much more risky proposition and you need to do your homework.Ultimately this option gives you the most flexibility and doesn't put burden of an expensive hard money loan over your head. 

This seemed like a prefect way to start investing in real estate with little money and risk. I

But the logistics would be tricky and risky. 

Though I would also caution you that this could be a risky time to buy property at 100% LTV.

For the most part, the advice from the financial planners I've encountered, when it comes to real estate  is a version of "too risky" and "you need to diversify".

I’ve been researching them some but I’m not sure the risk is worth it?